COMPANY

St. Augustine Gold and Copper Limited is the owner of the Kingking Copper-Gold Project in the southern island of Mindanao in the Philippines. The Kingking Copper-Gold Project is one of the largest undeveloped deposits in the world. Kingking’s mineral reserve amounts to 960M tonnes comprising of 849M tonnes of milling reserves at 0.26% total copper and 0.36 g/t gold and 111 Mt leaching reserves grading 0.23% copper. The equivalent copper grade of the life of mine milling reserve is 0.48% and it averages 0.83% equivalent copper for the first 5 years of milling ore. The Company is currently commencing a bankable feasibility study on the Kingking Copper-Gold Project and published a Preliminary Feasibility Study on July 31, 2025.

OVERVIEW & HISTORY

In 1966, Nationwide Development Corporation (NADECOR), discovered the Kingking mineralization zone. Between the years of 1969 – 1997, the deposit was explored by the Mitsubishi Corporation, Benguet Corporation, and Echo Bay Mining. A significant portion of historical drilling at Kingking has focused on exploring, defining, and confirming the economic potential of the asset. The exploration and drilling completed to-date indicates that the Kingking deposit is a significant copper-gold porphyry system with the potential to become an economically profitable project.

Mineral Production Sharing Agreement No. 009-92-XI (the “MPSA”) was approved by the President of the Philippines on May 27, 1992, in favor of NADECOR as Leaseholder and Benguet Corporation (Benguet) as Operator.

In 2009, Russell Mining and Minerals, Inc. (RMMI) signed a letter of intent with NADECOR to develop the Kingking Copper-Gold Project. In 2010, RMMI, NADECOR and Benguet reached a settlement agreement wherein Benguet granted RMMI its rights, title and interest as Operator for the Kingking Copper-Gold Project.

In 2011, RMMI assigned its interest in Kingking to Ratel Gold Limited (“Ratel”). Subsequently, as part of a reverse take-over, RMMI took over management and changed the Company’s name to St. Augustine Gold and Copper Ltd.

On January 21, 2011, shares of St. Augustine Gold and Copper Limited began trading on the Toronto Stock Exchange under the symbol SAU.

In 2013, NADECOR assigned its rights, title and interest over the MPSA in favor of Kingking Mining Corporation (KMC) which assumed all obligations and responsibilities. KMC is a mining company registered with the Philippine Securities and Exchange Commission (SEC) on October 30, 2013, to engage in and carry on the business of mining exploration, feasibility, development, utilization, extraction of ferrous and non-ferrous mineral ores and quarrying of a mining area; to deal in, purchase, lease, option, locate, apply for, or otherwise acquire, own, exchange, sell, lease, or otherwise dispose of mines, mining claims, mining rights, mining applications, timber rights, water rights, oil, coal and gas rights, all to the extent permitted by law.

Thereafter, on November 25, 2013, NADECOR assigned its rights, title and interest over the MPSA in favor of KMC which assumed all obligations and responsibilities thereto.

The Company obtained its Certification Precondition from the Philippine National Commission on Indigenous Peoples (NCIP) in compliance with the Indigenous Peoples Rights Act of 1997 in February 2016 (FPIC guidelines) based upon a Memorandum of Understanding with the Mansaka Indigenous Cultural Communities/Indigenous Peoples.

The MPSA was further amended on May 23, 2016, to renew its term for another twenty-five (25) years to expire on May 22, 2041.

On June 2, 2016, the Department of Environment and Natural Resources (DENR) approved the expansion of the area covered by the MPSA by annexing Parcels III and IV the 1,767.1641 hectare portion of the area covered by NADECOR’s mining application denominated as Application for Mineral Production Sharing Agreement (APSA) No. 000026-IX which was renamed to MPSA No. 009-92-XI Amended II.

The MGB approved the assignment of the MPSA by Benguet in favor of NADECOR, and subsequently the assignment by NADECOR in favor of KMC on June 27, 2016.

In 2016, the MGB issued Mineral Processing Permit (MPP) No. 16-2016-XI in favor of NADECOR. However, the imposition of the open-pit mining ban that same year, coupled with the impact of the COVID-19 pandemic from 2020 to 2022, constrained the operational and economic viability of the Kingking Copper-Gold Project and hindering compliance with the MPP requirements. With the lifting of the open-pit ban in late 2021, the easing of pandemic restrictions, and improved metal prices, the Company is now in a position to move forward and is currently completing the requirements to renew the MPP and advance the Kingking Copper-Gold Project.